POSTED BY December 31, 2013 10:57 am COMMENTS (2)ON
I am staying in a rented apartment and will shift to my own apartment in October next year. As of now I am paying pre-EMI and not claiming the interest payment since my apartment is under construction. I am claiming the HRA benefit on the rent paid for rented apartment.
Now my query is, once I move to my own apartment in Oct 2014, I shall start paying full EMI and the HRA benefit shall stop. How much interest payment can I claim for the FY 2014-15 if I use HRA benefit for the first half. I expect that my interest payment from Oct 2014 to March 2015 would be about Rs.2,30,000 (as the loan is big). Should I claim whole 1,50,000 or only proportionate amount for 6 months i.e., 75,000 + HRA benefit claimed in first six months (which would be about 38,000)
Please suggest and help.